Jonathan Shead has been appointed as head of retirement solutions at SSGA

State Street Global Advisors has appointed Jonathan Shead in the firm’s newly created position as the head of retirement solutions.

State Street Global Advisors (SSGA) is an investment management and advisory firm and a division of the global State Street Corporation, one of the world’s largest asset management firms. The firm employs over 2500 professionals in 25 locations worldwide, including offices in both Melbourne and Sydney, and has assets of USD $2.7 trillion under its management globally.  

SSGA Australia has created the role of head of retirement solutions for Jonathan Shead. In the position, Shead will build and lead a team of professionals to develop retirement investment products in collaboration with superannuation funds as well as financial advisors. 

Shead has been with SSGA since mid-2000, when he joined the firm to assist in the development, marketing and maintenance of multiple investment strategies. He has a Bachelor in Economics from Macquarie University and is a fellow of the Institute of Actuaries of Australia. 

Prior to joining SSGA, Shead was a senior asset consultant and consulting actuary with superannuation administration and consulting firm NSP Buck.

James MacNevin SSGA’s COO for the Asia Pacific region said; “As more Australian super fund members transition from accumulating wealth to drawing down their savings, the need for investment strategies tailored for retirement has become acute.”

"Our Global Retirement Survey, to be released next month, indicates only one in five working Australians are optimistic about their financial future in retirement."

"We hope this new retirement solutions team will help shift that sentiment and contribute to a greater sense of financial security for Australian retirees.” 

MacNevin – based out of Sydney – was also recently appointed to the top role in March this year. He replaced Lochiel Crafter who has moved up as the firm’s global institutional group head. “His multi-disciplinary experience and record of success in the Asia Pacific region make him an ideal successor to Lochiel,” said Cyrus Taraporevala, president and CEO of SSGA.

“Asia Pacific is critical to our global strategy and we believe his experience and knowledge of our business will add tremendous value as we continue to develop and enhance our offerings to institutional and retail clients in the region.” 

Speaking at the Australian Institute of Superannuation Trustees Super Investment Conference in 2017, the firm’s new senior appointee Shead said; “As asset managers we want to prove we aren't an industry of leeches; that we're actually contributing to broader economic growth. But we can't do that if we can't determine what motivates us.”